Ann: Corporate Update, page-68

I have not been bullish on Silver for a long time with the US interest rates rising. However I thing with the EU Tapering the US Dollar may come under some pressure. For Silver investors this may translate into higher Silver prices along with an increase in demand in US minted silver coins. I also note that in Jan 2016 Silver in US dollar terms bottomed at around $13.85. In 2018 it reached a bottom of $14.07. It is now trading above $14.60. So lots of support around the $14.00 mark. There's a good chance that Silver has bottomed and if not then I suspect it will likely do so in the next 6 to 12 months.

Not to say they there isn't interest in Maslins because company announcements have stated many times that there is interest from other cashed up corporations, however, I think it will be some time before a JV announcement is made probably late this Quarter or even Feb next quarter. Lets hope Maslins in economically mineralised and a decent deposit. As nothing can be guaranteed until drilling results show a decent deposit exists.

We are likely to get an update on Paris, however, as I stated in my post in early September. It is unlikely to be profitable at these prices though the cycle will turn and it probably wouldn't take much for it to become a profitable mine. Later this year, I suspect an update on some of the projects they are considering buying into. If the project is good enough to excite the market the announcement no doubt will be accompanied with a capital raise.

As far as future announcements go. I think shareholders will no longer be as informed as to what is happening. The company looks as though they have tightened their belt which I think is a good thing though with less employees there will be less to report.

The AMG announcement looks positive for IVR. I only wish we held more ground in that area.

Good luck to holders.